3D Printing Technology is increasingly used by the Passenger Cars AfterMarket – EIN News
Passenger Cars After Market Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
The Business Research Company’s Passenger Cars After Market Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON, UK, January 24, 2022 /EINPresswire.com/ — The passenger cars after market is using 3D printing technology also called as Additive Manufacturing (AM) to make high-quality off-the-shelf car parts using 3D printers that are capable of printing in metals and alloys. 3D printing works by making a virtual 2D object in the software and constructing the 3D framework by using the printer. The use of 3D printing in producing automobile parts increases the efficiency, raises the production standards of the companies and changed the passenger cars after market outlook. Companies (original equipment manufacturers) such as General Motors, BMW, Ford and Porsche have already started investing in this trend.
The global passenger cars aftermarket market size is expected to grow from $216.18 billion in 2021 to $226.33 billion in 2022 at a compound annual growth rate (CAGR) of 4.7%. The passenger cars after market growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $289.37 billion in 2026 at a CAGR of 5.3%.
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Increasing average lifespan of a car is one of the major drivers of the passenger cars aftermarket global market as it leads to an increase in consumer’s regular maintenance and scheduled servicing of the vehicle. The lifespan of the car describes the maximum service life in terms of mileage and time. Changing of wheels, batteries, spark plugs, air filters plays a significant role in prolonging the life of a vehicle. According to IHS automotive survey in 2019, the typical car on the road in the US is 11.8 years old. Addition to that, based on an article by USA Today, the number of old vehicles on the road that are totaling up to 278 million in 2019.
Major players covered in the global passenger cars after market are Denso Corporation, Robert Bosch Gmbh, Continental AG, 3M company, Delphi Automotive PLC., ZF Friedrichshafen AG, Magneti Marelli S.p.A, Cooper tire & Rubber Company, Federal -Mogul Corporation, Goodyear tire & rubber company, Aisin Seiki Co, Valeo; Sumitomo Electric Industries Ltd, Aptiv PLC, MAHLE GmbH, Schaeffler AG, ACDelco, Mobileye, Eaton, Schaeffler Technologies AG, Lear Corporation, Yazaki Corp, Akebono Brake Corporation, American Axle & Manufacturing, Bridgestone Corporation, Gates Corporation, Hyundai Mobis Co. Ltd, Kumho Tires, Exide Technologies and Pirelli & C. S.p.A.
TBRC’s global passenger cars after market report is segmented by type into tires, battery, brake parts, filters, body parts, lighting, wheels, exhaust components, turbochargers, others, by distribution channel into retailers (OEMs, repair shops), wholesalers and distributors, by certifications into genuine parts, certified parts, uncertified parts.
Passenger Cars After Market Global Market Report 2022 – By Type (Tires, Battery, Brake parts, Filters, Body parts, Lighting, Wheels, Exhaust components, Turbochargers), By Distribution Channel (Retailers (OEM’s, Repair Shops), Wholesalers & Distributors), By Certifications (Genuine Parts, Certified Parts, Uncertified Parts) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a passenger cars aftermarket overview, passenger cars after market forecast, passenger cars after market size and passenger cars after …….